Industrial and Commercial Bank of China has granted approval for Yuan (RMB) clearing services in Pakistan.

This development simplifies cross border transactions and fulfills financial needs for both countries.

Minister for Commerce Dr. Gohar Ijaz in a statement said ICBC will now facilitate Yuan transaction clearing for Pakistani banks.

This development simplifies cross border transactions and fulfills financial needs for both countries.

It will also provide more choices for our exporters and will reduce currency convergent cost when trading with China.

The Minister has asked exporters to the country to make the most of this opportunity for trade with China, strengthening our economic ties.

He also expressed gratitude to the Finance Minister and Governor State Bank for their persistent efforts in making this possible.